Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $42,324.84 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,068 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Toast Stock Performance

Toast stock opened at $41.21 on Friday. The company has a 50-day moving average price of $38.43 and a 200 day moving average price of $32.31. Toast, Inc. has a 12-month low of $18.47 and a 12-month high of $44.12.

Toast (NYSE:TOST) last announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, equities research analysts expect that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada raised their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods lifted their target price on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. BMO Capital Markets assumed coverage on shares of Toast in a research report on Monday, January 6th. They set an “outperform” rating and a $45.00 price target for the company. Finally, Wedbush lifted their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.09.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently modified their holdings of the company. Makena Capital Management LLC grew its position in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after acquiring an additional 19,371 shares in the last quarter. KBC Group NV increased its stake in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares during the period. Geode Capital Management LLC grew its stake in shares of Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after acquiring an additional 155,212 shares in the last quarter. MML Investors Services LLC increased its position in shares of Toast by 40.6% during the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after acquiring an additional 65,957 shares during the period. Finally, Qsemble Capital Management LP boosted its holdings in Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock valued at $1,919,000 after purchasing an additional 23,231 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.